EUR/CHF: Possible long move after correction down to FIBO 61.8%

15.03.2017 / 11:42

Rating:

EUR/CHF:

Date: 15 March, 2017

H4 Graph: Medium term choppy, Short term possible long move up

After the price found a solid bottom at around 1.06300, price started going up. Now its back down for a correction to Fib 61.8%. There is also a horizontal and diagonal support here. Price does remain above both 50 and 200 EMA's, as the bigger moving average plays the role of dynamic support as well.

DEM: Close to the oversold zone and possibly a set for going higher

Alternative scenario: If the price does continue to go down and passes below the horizontal suport at 1.0700 and below FIB 61.8%, this will cancel the bullish setup.

Price for Entry long around: 1.07100

SL: 1.06800

Trader - S. Fuchedzhiev

Varchev Traders

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EUR/CHF: Possible long move after correction down to FIBO 61.8%

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